SAN FRANCISCO, July 7, 2016 —EarnUp, a consumer-first fintech platform that intelligently automates loan payments, announced its launch today with $3 million in seed funding. Blumberg Capital, Kapor Capital, Camp One Ventures, Fenway Summer Ventures, and other leading angel investors provided seed capital to accelerate the platform’s development and expand user access with a mission to improve consumer financial health. Forbesrecently announced EarnUp as a winner of the prestigious Financial Solutions Lab in partnership with JPMorgan Chase & Co. (NYSE: JPM) and the Center for Financial Services Innovation. Though still in private beta, EarnUp already manages hundreds of millions of dollars in consumer loans on its platform. More information is available at www.EarnUp.com.

“Millions of Americans suffer financial stress from income volatility, where their income doesn’t match up with when loan payments are due,” said Matthew Cooper, co-founder of EarnUp. “Our product solves this issue by effectively budgeting for the consumer. We help put money aside as it comes in, giving people peace of mind in knowing the money they need will be there when loan payments need to be made. We give control back to the consumer.”

There are over 200 million Americans with debt and a typical household may have income and expenses hitting their bank accounts over 20 times a month. This financial chaos causes incredible stress for consumers, who may struggle to come up with even the minimum loan payments on time. EarnUp works by automatically putting a few dollars aside for future loan payments whenever consumers can afford it, then sending those payments and making sure they are applied in a way that reduces debt faster.

“The loan payment experience has been broken for decades,” said David Blumberg, founder and managing partner of Blumberg Capital. “EarnUp has developed a consumer-first platform that makes this daily struggle simple and transparent. EarnUp’s solutions enable consumers to reduce interest expense, budget better, and save more, in a simple and elegant service.” Blumberg will join EarnUp’s Board of Directors.

Widespread consumer frustration about debt payments and products is nothing new; the Consumer Financial Protection Bureau received over 30,000 responses last year when student loan holders were invited to share their “debt stress” experiences.

EarnUp’s founders, Matthew Cooper and Nadim Homsany, got the idea for the company from witnessing their parents’ struggles. “We’ve seen our parents endure a lifetime of loan frustration – complex products, poor service, indecipherable statements, and unpredictable expenses,” said Nadim Homsany, EarnUp co-founder. “Our parents are still paying back these loans even as they enter retirement, and they’re not alone — everyone has these problems.”

“The consumer benefits of EarnUp are inspiring,” said Benjamin Jealous, partner at Kapor Capital and former President and CEO of the National Association for the Advancement of Colored People. “EarnUp has been able to deliver millions in savings for consumers across the income spectrum, including many households in underserved communities. We are partnering with this team because they have the ability to radically improve financial access for millions of people who are poorly served by their current financial products.”

EarnUp has been bootstrapped to date and the $3 million in seed financing represents the company’s first institutional funding.

To learn more and sign up for early access, please visit www.earnup.com.

About EarnUp

EarnUp is a consumer-first platform that intelligently automates loan payments and identifies earning opportunities for the 200 million indebted Americans. EarnUp puts a few dollars aside for loans when consumers can afford it — then makes payments for the consumer, allocating funds the way that gets consumers out of debt faster. The EarnUp community is dedicated to giving control back to everyone who is frustrated in managing their finances. Based in San Francisco, EarnUp is backed by prominent VC firms Blumberg Capital, Kapor Capital, Camp One Ventures, and Fenway Summer Ventures plus other leading angels and entrepreneurs. EarnUp is a member of the prestigious Financial Solutions Lab in partnership with JPMorgan Chase & Co. (NYSE: JPM) and the Center for Financial Services Innovation. For more information, visit www.earnup.com and follow on Twitter @EarnUp.

U.S. National Debt

Fintech Innovations

Upon signing up for a Worldcore account, account holders fill out a short application and, once approved, are assigned a custom affiliate link, which is used to track new client signings. Worldcore Affiliate Program members will also be paid for each high-value client they enroll in Worldcore payment platform. Social Media Marketers also stand to make money based on social interactions.

Innoveo Skye® is a multi-channel web-based software that enhances the way insurance companies bring products to market with dynamic configuration of insurance products, processes and distribution channels. Combined Insurance is a leading provider of supplemental accident, disability, health and life insurance products, and is a Chubb company.

The Philippines is a cash-centric culture where more than 95% of all transactions are completed with the Peso in hand. The national ATM penetration rate of 23% is significantly lower than the global average (over 70%). There are less than 19,000 ATMs for over 100 million people in the country and the local ATM can often be a bus or ferry journey away.

Silvervine Software has chosen Elafris as the chatbot messaging platform for its insurance software solution suite. Silverware Software clients will be able to use chatbots, powered by artificial intelligence, to collect payments, suggest supplemental products, and provide claim services in most venues including Facebook Messenger, Snapchat and Skype.

Expert calls and management meetings are just some of the tools that professional portfolio managers have utilized for decades to quickly get insights on market moving news. Spending over $600m annually in 2015 on this type of research, financial institutions are able to intelligently invest in a broad range of companies using expert knowledge. By grouping members together, Slingshot similarly empowers individual investors with access to these same experts at a fraction of the cost.

LexisNexis Risk Solutions, the global big data, technology and analytics firm, has teamed with Elliptic, a blockchain intelligence company, to promote the ubiquitous adoption of Bitcoin and other virtual currencies by exposing money launderers, human traffickers, terrorists, and drug dealers who use Bitcoin to make dark web purchases.